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EGB SYNDICATION

Italy CCTeu Guidance

28 November 2017
By Kyle Shortland
     
Click below for today's MNI FX Technical Analysis Report -
http://tinyurl.com/pzkomnu
DOLLAR-SING TECHS: Sgd1.3528-81 Resistance Region Key
*RES 4: Sgd1.3581 - 100-DMA 
*RES 3: Sgd1.3561 - Daily Bear channel top 
*RES 2: Sgd1.3528 - 200-WMA 
*RES 1: Sgd1.3486 - High Nov 23
*PRICE: Sgd1.3464 @ 2300GMT
*SUP 1: Sgd1.3430 - Low Sept 22 
*SUP 2: Sgd1.3399 - Low Sept 20 
*SUP 3: Sgd1.3342 - 2017 Low Sept 8 
*SUP 4: Sgd1.3315 - 2016 Low June 23
*COMMENTARY: Topside hesitation ahead of 100 (Sgd1.3581) & 21 (Sgd1.3569) DMAs
resulted in a sharp sell-off and bearish close Wednesday that sees overall focus
back on 2017 lows. The Bollinger base (Sgd1.3450) is the key concern for bears
with potential to limit follow through. Bulls still need a close above the
200-WMA to ease bearish pressure and above the 100-DMA to shift initial focus to
Sgd1.3659.
DOLLAR-WON TECHS: Bulls Need Close Above Krw1194.0
*RES 4: Krw1107.5 - High Nov 16, 21-DMA
*RES 3: Krw1101.4 - High Nov 20
*RES 2: Krw1094.0 - High Nov 22
*RES 1: Krw1090.6 - High Nov 23
*PRICE: Krw1088.6 @ 2300GMT
*SUP 1: Krw1083.3 - 2017 Low Nov 24
*SUP 2: Krw1084.0 - Low May 18 2015
*SUP 3: Krw1078.8 - Low May 4 2015
*SUP 4: Krw1066.6 - 2015 Low Apr 29 2015
*COMMENTARY: Fresh 2017 and 2+ year lows left the pair looking heavy last week
with focus having shifted to tests of the 2015 low. O/S daily studies and
Bollinger base (Krw1082.8) remain key concerns for bears. In saying that, bulls
still need a close above Krw1094.0 to ease bearish pressure and above Krw1101.4
to shift focus to Krw1107.5-1110.5 where the 21-DMA is noted.
DOLLAR-MYR TECHS: Above Myr4.1423 To Ease Bearish Pressure
*RES 4: Myr4.2020 - High Nov 10 
*RES 3: Myr4.1873 - 21-DMA 
*RES 2: Myr4.1725 - Lows Nov 10 & 15 now resistance 
*RES 1: Myr4.1423 - High Nov 24
*PRICE: Myr4.1145 @ 2300GMT
*SUP 1: Myr4.1110 - Low Nov 24 
*SUP 2: Myr4.0860 - 2017 Low Nov 23 
*SUP 3: Myr4.0370 - Monthly Low Sept 8 2016 
*SUP 4: Myr4.0135 - Low Aug 26 2016
*COMMENTARY: The 100-DMA capped rallies in recent weeks resulting in a sell-off
to repeated fresh 2017 and 13mth lows with bears focused on Myr4.0135-0370. O/S
daily studies and the Bollinger base (Myr4.0957) remain key concerns for bears.
Bulls need a close above Myr4.1423 to ease immediate bearish pressure and above
Myr4.1725 to shift immediate focus back to Myr4.1873-2064 where 21 & 55-DMAs are
noted.
DOLLAR-CNH TECHS: Above 21-DMA To Ease Bearish Pressure
*RES 4: Cnh6.6441 - 100-DMA 
*RES 3: Cnh6.6255 - 21-DMA 
*RES 2: Cnh6.6189 - Low Nov 15 now resistance 
*RES 1: Cnh6.6148 - 55-DMA
*PRICE: Cnh6.5945 @ 2300GMT
*SUP 1: Cnh6.5674 - Low Nov 24
*SUP 2: Cnh6.5568 - Low Oct 11
*SUP 3: Cnh6.5409 - Low Sept 18
*SUP 4: Cnh6.5219 - Low Sept 13
*COMMENTARY: Rallies remained capped ahead of the 100-DMA in past weeks
resulting in a sell-off that sees immediate pressure back on Cnh6.5568. Bears
continue to look for a close below this level to confirm focus on a move back to
Cnh6.5053. Bulls still need a close above the 21-DMA to ease bearish pressure
and above Cnh6.6651 to shift initial focus to Cnh6.6904 and overall focus to the
200-DMA (Cnh6.7501).
DOLLAR-PHP TECHS: 200-DMA Key Support
*RES 4: Php51.230 - High Nov 15 
*RES 3: Php51.137 - 55-DMA 
*RES 2: Php51.030 - High Nov 20 
*RES 1: Php50.750 - High Nov 24
*PRICE: Php50.510 @ 2300GMT
*SUP 1: Php50.471 - 200-DMA 
*SUP 2: Php50.250 - Low Aug 7 
*SUP 3: Php50.213 - Daily Bear channel base 
*SUP 4: Php50.140 - Monthly Low Aug 4
*COMMENTARY: Pressure returned to the 200-DMA to start the new week with bears
continue to look for a close below to initially target Php50.12-14. O/S daily
studies and Bollinger base (Php50.415) remain key concerns for bears. In saying
that, the Php50.750 resistance continues to cap with bulls needing a close above
to shift focus back to key DMAs Php50.976-51.137 with a close above Php51.230
needed to end bearish hopes and shift overall focus back to 2017 highs.
DOLLAR-THB TECHS: Overall Focus On Bear Channel Base
*RES 4: Thb33.07 - High Nov 15 
*RES 3: Thb32.97 - 21-DMA 
*RES 2: Thb32.92 - High Nov 17 
*RES 1: Thb32.77 - High Nov 22
*PRICE: Thb32.61 @ 2300GMT
*SUP 1: Thb33.58 - 2017 Low Nov 22 
*SUP 2: Thb33.57 - Bollinger band base 
*SUP 3: Thb32.52 - Low Apr 27 2015 
*SUP 4: Thb32.08 - Daily Bear channel base
*COMMENTARY: Recent repeated fresh 2017 lows reconfirmed a bearish bias with
bears also reconfirming overall focus on tests of the bear channel base. O/S
daily studies and the Bollinger bases remain key concerns for bears. Bulls need
a close above Thb32.77 to ease immediate bearish pressure and hint at a
correction back to Thb32.92-33.11 where 21 & 55-DMAs and the bear channel top
are located.
DOLLAR-IDR TECHS: Idr13532-538 Resistance Region Key
*RES 4: Idr13640 - 2017 High Oct 27 
*RES 3: Idr13605 - High Oct 30 
*RES 2: Idr13576 - Bollinger band top 
*RES 1: Idr13558 - Low Nov 13
*PRICE: Idr13517 @ 2300GMT
*SUP 1: Idr13490 - Low Nov 7 
*SUP 2: Idr13472 - 55-DMA 
*SUP 3: Idr13455 - Low Oct 5 
*SUP 4: Idr13430 - 100-DMA
*COMMENTARY: The pair remained capped by the 21-DMA (Idr13532) last week. The
Idr13558 resistance remains key with bulls still needing a close above to gain
traction above the 21-DMA and shift focus back to Idr13605-640. While the 21-DMA
caps immediate bearish focus remains on the 55-DMA with a close below last seen
in late Sept. Below the 55-DMA pressures 100 (Idr13430) & 200 (Idr13365) DMAs.
DOLLAR-INR TECHS: Below Inr64.4400 Targets 2017 Low
*RES 4: Inr65.4192 - Daily Bear channel top 
*RES 3: Inr65.1375 - Low Nov 
*RES 2: Inr64.9021 - 200-DMA 
*RES 1: Inr64.8522 - 55-DMA
*PRICE: Inr64.5000 @ 2300GMT
*SUP 1: Inr64.4400 - Low Sept 21 
*SUP 2: Inr64.3531 - Bollinger band base 
*SUP 3: Inr64.2682 - Daily Bear channel base 
*SUP 4: Inr63.7750 - Monthly Low Sept 8
*COMMENTARY: Failure to gain traction on pops above the LT falling TL
(Inr65.3234) off Nov 2016 highs in recent weeks resulted in a sell off that sees
bears focused on Inr64.2682-4440 where the daily bear channel base is situated.
Bulls need a close above the 200-DMA to ease bearish pressure. Above Inr64.5425
is needed to end bearish hopes and shift immediate focus to 2017 highs
(Inr65.8900).
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]